China to Increase its Stockpile of Grains and Edible Oils in 2015

China’s Finance Ministry said the country will spend 154.6 billion yuan ($24.66 billion) on stockpiling grains, edible oils and other materials in 2015, a rise of 33 percent year-on-year. The Chinese government will also maintain minimum purchasing prices for wheat and rice in 2015 and target total grain output at more than 550 million tons, the National Development and Reform Commission (NDRC) said separately on Thursday [5 March 2015]…The Global Times: Mar 2015

Key Point

According to the NDRC, in 2015, China will transition 667,000 ha of agricultural land to forest/grassland in an effort to safeguard the environment.

ChinaAg Comment

In 2014, China produced 607 million MTs of grain (e.g. rice, wheat, corn, beans, and tubers).